Bank of Marin Bancorp BMRC Income Statement

Bank of marin bancorp (BMRC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income
Interest and fees on loans
84,331	79,527	66,799	67,472	61,754	64,823	54,408	59,403	63,479	56,239	54,816
Interest on investment securities
14,785	14,092	8,802	-	-	-	-	-	-	-	-
Securities of U.S. government agencies
-	-	-	5,155	4,709	4,502	2,573	3,195	3,478	3,234	3,304
Obligations of state and political subdivisions
-	-	-	2,339	2,155	2,273	2,214	1,789	1,299	1,146	1,103
Corporate debt securities and other
-	-	-	256	685	1,031	1,245	1,165	636	593	506
Interest on federal funds sold and due from banks
1,321	1,461	995	208	135	161	120	214	222	145	5
Total interest income
100,437	95,080	76,596	75,430	69,438	72,790	60,560	65,766	69,114	61,357	59,734
Interest expense
Interest on interest-bearing transaction accounts
347	226	108	109	115	99	52	151	151	110	115
Interest on savings accounts
70	72	66	58	51	46	35	88	98	104	94
Interest on money market accounts
3,439	1,355	555	445	495	550	419	689	1,286	2,467	3,235
Interest on CDARS time accounts
-	-	-	-	-	-	-	-	237	842	721
Interest on time accounts
595	542	576	743	853	917	922	1,151	1,314	1,495	1,541
Interest on borrowings and other obligations
77	2	0	478	317	315	322	345	2,062	1,430	1,461
Interest on subordinated debentures
229	1,339	439	436	420	422	35	152	147	-	-
Total interest expense
4,757	3,536	1,744	2,269	2,251	2,349	1,785	2,576	5,295	6,448	7,167
Net interest income
95,680	91,544	74,852	73,161	67,187	70,441	58,775	63,190	63,819	54,909	52,567
Provision for loan losses
900	0	500	-1,850	500	750	540	2,900	7,050	5,350	5,510
Net interest income after provision for loan losses
94,780	91,544	74,352	75,011	66,687	69,691	58,235	60,290	56,769	49,559	47,057
Non-interest income
Earnings on (cost of) bank-owned life insurance
1,200	913	845	844	814	841	954	762	752	690	-
Dividends on Federal Home Loan Bank stock
799	959	766	1,153	1,003	563	259	-	-	-	-
Gains (losses) on sale of investment securities, net
55	876	-185	425	79	80	-1	-34	0	-	-
Other income
1,345	1,642	1,039	908	937	900	704	536	649	449	2,017
Total non-interest income
9,084	10,139	8,268	9,161	9,193	9,041	8,066	7,112	6,269	5,521	5,182
Non-interest expense
Salaries and related benefits
34,253	33,335	29,958	26,663	25,764	25,005	21,974	21,139	20,211	18,240	17,001
Occupancy and equipment
6,143	5,976	5,472	5,081	5,498	5,470	4,347	4,230	4,002	3,576	3,516
Depreciation and amortization
2,200	2,100	1,941	1,822	1,968	1,585	1,395	1,355	1,293	1,344	1,370
Federal Deposit Insurance Corporation insurance
361	756	666	825	997	1,032	921	917	1,000	1,506	1,800
Data processing
3,717	4,358	4,906	3,625	3,318	3,665	5,334	2,514	2,690	1,916	1,650
Professional services
2,132	3,317	2,858	2,044	2,121	2,230	2,985	2,340	2,499	1,917	1,727
Directors' expense
735	700	720	553	826	628	537	-	-	-	-
Information technology
1,065	1,023	769	862	736	675	513	-	-	-	-
Amortization of core deposit intangible
887	921	-	-	-	-	-	-	-	-	-
Provision for losses on off-balance sheet commitments
129	0	57	150	-263	334	112	-52	-	-	-
Other expense
6,320	5,737	6,435	6,067	5,984	6,639	5,974	6,251	6,588	4,858	4,632
Total non-interest expense
57,970	58,266	53,782	47,692	46,949	47,263	44,092	38,694	38,283	33,357	31,696
Income before provision for income taxes
45,894	43,417	28,838	36,480	28,931	31,469	22,209	28,708	24,755	21,723	20,543
Provision for income taxes
11,653	10,795	12,862	13,346	10,490	11,698	7,939	10,891	9,191	8,171	7,778
Net income
34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	15,564	13,552	12,765
Net income per common share:
Preferred stock dividends and accretion
-	-	-	-	-	-	-	-	-	-	-1,299
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	11,466
Basic (in dollars per share)
2.51	2.35	1.29	3.81	3.09	3.35	2.62	3.34	2.94	2.59	2.21
Diluted (in dollars per share)
2.48	2.33	1.27	3.78	3.04	3.29	2.57	3.28	2.89	2.55	2.19
Weighted average shares:
Basic (in shares)
13,620	13,864	12,392	6,073	5,966	5,893	5,457	5,341	5,302	5,238	5,182
Diluted (in shares)
13,794	14,029	12,545	6,115	6,065	6,006	5,558	5,438	5,384	5,314	5,242
Dividends declared per common share (usd per share)
-	-	-	1.02	0.90	0.80	0.73	0.70	0.65	0.61	0.57
Comprehensive income:
Net Income (Loss) Attributable to Parent
34,241	32,622	15,976	23,134	18,441	19,771	14,270	17,817	15,564	13,552	12,765
Other comprehensive income
Change in net unrealized gains or losses on available-for-sale securities included in net income
11,839	-1,707	3,671	-5,679	-1,481	2,939	-4,720	752	90	1,600	-
Reclassification adjustment for (gains) losses on available-for-sale securities in net income
55	-79	-185	394	6	-24	-18	-34	0	0	-
Net unrealized losses on securities transferred from available-for-sale to held-to-maturity
0	278	3,036	0	0	-	-	-	-	-	-
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity
445	516	426	21	61	-	-	-	-	-	-
Subtotal
12,229	-1,390	1,246	-6,052	-1,426	2,963	-4,702	786	90	1,600	-
Deferred tax expense
3,624	-412	439	-2,566	-531	1,203	-1,975	330	37	672	-
Other comprehensive income, net of tax
8,605	-978	807	-3,486	-895	1,760	-2,727	456	53	928	-
Comprehensive income
42,846	31,644	16,783	19,648	17,546	21,531	11,543	18,273	15,617	14,480	-
Deposit Account
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
1,865	1,891	1,784	1,789	1,979	2,167	2,062	2,130	1,836	1,797	1,782
Fiduciary and Trust
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
1,907	1,919	2,090	2,090	2,391	2,309	2,162	1,964	1,834	1,521	1,383
Debit Card
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
1,586	1,561	1,531	1,503	1,445	1,378	1,104	1,015	845	486	-
Merchant Interchange Fees, Net
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
331	378	398	449	545	803	822	739	353	578	-